Corporate Social Responsibility

The pilot project of the PM Internship Scheme received over 650,000 applications for 127,000 opportunities offered by 280 Indian companies participating in the scheme

Mizoram Chief Minister Lalduhoma said his government has decided to remove non-performing employees from service. During a meeting to review the initiatives of the Education department held in Aizawl, Lalduhoma on Tuesday said that committees are being formed in departments to review the services of employees under the state government. He said that initiatives were taken to ensure a qualified and efficient workforce. "We feel that it is better we relieve all unqualified employees, who are no longer worth to be employed, to exit from their services as per norms. We are committed to having efficient employees, who maintain good quality of services," the chief minister told the meeting. Lalduhoma said that his government is taking steps to ensure that all projects are executed properly and effectively. "Projects are being closely monitored by the state project monitoring committee, which has inspected about 40 ongoing projects so far. We will be stringent in implementing and monitor

The Government has revised the CSR guidelines for CPSEs by including PM's Internship Scheme as the common theme for the current fiscal, an official said. Currently, Central Public Sector Enterprises (CPSEs) follow a theme-based approach in utilising their Corporate Social Responsibility (CSR) funds. CPSEs have to spend 60 per cent of their CSR funds on the theme set for a particular year. "We have added PM's Internship Scheme to 'Health and Nutrition' as the common theme for CSR activities by the CPSEs for 2024-25. CPSEs will spend 60 per cent of their CSR funds towards 'health and nutrition' and PM's Internship Scheme this fiscal," an official told PTI. The Ministry of Corporate Affairs, earlier this month, started enrolling companies as well as interns under the Prime Minister's Internship Scheme. Over five years, the scheme envisages providing internships to 1 crore youth. Under the pilot project, which is estimated to cost around Rs 800 crore, the 12-month long internship will

Aims to provide 125,000 internships in FY25

Scheme portal to go live by Sep-end

Sets new standards for rapid space missions; the rocket launches three Cube satellites into orbit to study atmospheric conditions

Trading witnessed growth in employment even while sales declined

Japanese automobile firm Suzuki Motor on Thursday launched its first investment fund in India--Next Bharat Ventures--a Rs 340 crore fund dedicated to fostering impact entrepreneurs who create value in Tier-II and below geographies. This Suzuki initiative aims to support social impact startups in the domains of agriculture, financial inclusion, rural supply chains, and rural mobility, through a residency programme. "Next Bharat will invest in growth-stage impact firms and early-stage impact entrepreneurs through its flagship residency programme. In order to improve synergy among our early-stage portfolio, We do Fund of Fund operations, investing in Indian Early Stage Venture Capital firms, this investment will also help in establishing strong strategic synergies for the Next Bharat Impact Fund," Next Bharat CEO and MD Vipul Nath Jindal told PTI. During the 4-month hybrid residency programme, selected impact entrepreneurs will receive extensive mentorship, access to resources, and ...

Hero MotoCorp on Friday said Head of Corporate Communication & Corporate Social Responsibility Bharatendu Kabi has resigned from the company. In a regulatory filing, Hero MotoCorp CEO Niranjan Gupta said Kabi has decided to step down from his role after nearly two decades of service with the company. "His strategic guidance has been instrumental, especially during critical moments like the separation from our former joint venture partner Honda in 2010-11," he stated. Kabi's contributions have played a significant role in strengthening the company's brand presence, Gupta said. His last day with the company will be July 31, 2024, he added.

In FY23, there was only a 5 per cent increase in CSR spending compared to the previous year, due to which, CSR spending as a percentage of net profit fell to a six-year low of 1.87 per cent

The donation, spanning five years, will be directed to the UNM Foundation, focusing on healthcare, education, ecology, and social well-being initiatives

Unveils Bajaj Beyond - Group's new identity for all CSR and charitable programmes

UP's Chief Secretary Durga Shankar Mishra said the state will organise a 'UP CSR Summit' to script a new chapter in the process of collaborative socioeconomic development

Established a century ago, the AMM Hospital, known locally as the 'oru ruba' (one rupee, which is the fee charged from patients) hospital, has been a beacon of quality healthcare for local community

The world needs India as the businesses in the country have been leading in terms of investing in social causes, a senior UN official said on Thursday and stressed that business is the key driver that will deliver the sustainable development goals. The United Nations Resident Coordinator in India Shombi Sharp also said that Corporate Social Responsibility (CSR) is indispensable in India's journey, where businesses are at the forefront in the efforts of the country to become a USD 5 trillion economy. "The world needs business and the world needs India and as India leads, the world is following," he said at a conference on CSR in the national capital. He noted that India has been leading the world in CSR, especially with its recent leadership during the COP28 summit. Under the companies law, certain classes of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities in a particular financial year. Beside

IT company Tech Mahindra Group firm Comviva has been penalised Rs 1 lakh for the delay in transferring unspent corporate social responsibility obligation to the Prime Minister's National Relief Fund, as per a regulatory filing. The Ministry of Corporate Affairs' Regional Director for the Northern Region has ruled against an appeal filed by Comviva against the order of the Registrar of Companies, which imposed a penalty of Rs 1 lakh on the company for the delay. According to the filing, there was an inadvertent delay due to technical reasons in the transfer of the amount unspent in relation to the Corporate Social Responsibility (CSR) obligation for the FY ended March 31, 2021, to the Prime Minister's National Relief Fund within the prescribed period of 6 months of the expiry of the financial year as per the Companies Act, 2013. "Penalty of Rs 1,00,000 has been imposed on Comviva Technologies Limited (Comviva) in connection with the appeal filed by Comviva before Hon'ble Regional ...

Through the initiative, RBL Bank aims to address the healthcare requirements of the underprivileged in an easily accessible way

Arvind Kapil to head mortgages; To have two branching heads

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The concluding part of a three-part series on corporate social responsibility spending looks at regional disparities in allocation